What is advanced analytics? Select one: a. A collection of large, complex data sets, including structured and unstructured data, which can't be analyzed using traditional database methods and tools b. Processes and manages algorithms across many machines in a computing environment c. Focuses on forecasting future trends and producing insights using sophisticated quantitative methods, including statistics, descriptive and predictive data mining, simulation, and optimization d. Extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on Big Data to identify trends, market changes, and other relevant information

Question

04-03-2020
Computers and Technology

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What is advanced analytics? Select one: a. A collection of large, complex data sets, including structured and unstructured data, which can't be analyzed using traditional database methods and tools b. Processes and manages algorithms across many machines in a computing environment c. Focuses on forecasting future trends and producing insights using sophisticated quantitative methods, including statistics, descriptive and predictive data mining, simulation, and optimization d. Extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on Big Data to identify trends, market changes, and other relevant information

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Diatonic254 Diatonic254 · Answer 1 · 2020-03-12T04:18:55+01:00

Answer:

C. Focuses on forecasting future trends and producing insights using sophisticated quantitative methods, including statistics, descriptive and predictive data mining, simulation, and optimization.

Explanation:

Imagine you have a business that has been doing so well and you are able to predict your best selling product for the next few years to come. That I believe is an awesome thing to do with the help of tools like advanced analytics. Advanced analytics is a way businesses examine data to derive new insights and then make informed decisions according to these informed decisions. In this digital age, with the right knowledge and expertise, we can help decipher and make sense of data clutter. Advanced analytics starts off by mining data that the businesses generate for analysis. For instance, if you know what your customer’s preferences and purchase behaviors are, you can predict which product will sell out fast.